Advanced Accounting 14th Edition

Book Preface

The approach used by Hoyle, Schaefer, and Doupnik allows students to think critically about accounting, just as they will in their careers and as they prepare for the CPA exam. Read on to understand how students will succeed as accounting majors and as future CPAs by using
Thinking Critically

With this text, students gain a well-balanced appreciation of the accounting profession. As Hoyle 14e introduces them to the field’s many aspects, it often focuses on past controversies and present resolutions. The text shows the development of financial reporting as a product of intense and considered debate that continues today and will in the future.
Readability

The writing style of the 13 previous editions has been highly praised. Students easily comprehend chapter con-cepts because of the conversational tone used throughout the book. The authors have made every effort to ensure that the writing style remains engaging, lively, and consistent.

Real-World Examples

Students are better able to relate what they learn to what they will encounter in the  business world after reading these frequent examples. Quotations, articles, and illustrations from Forbes, the Wall Street Journal,  Time, and Bloomberg BusinessWeek are incorporated throughout the text. Data have  been pulled from business, not-for-profit, and  government financial statements as well as official pronouncements.

Discussion Questions

his feature facilitates student understanding of the underlying accounting principles at  work in particular reporting situations. Similar to minicases, these questions help explain  the issues at hand in practical terms. Many  times, these cases are designed to demonstrate to students why a topic is problematic  and worth considering.

McGraw-Hill has partnered with Roger CPA Review (Powered by UWorld), a global leader in CPA
Exam preparation, to provide students a smooth transition from the accounting classroom to successful completion of the CPA Exam. While many aspiring accountants wait until they have completed
their academic studies to begin preparing for the CPA Exam, research shows that those who become
familiar with exam content earlier in the process have a stronger chance of successfully passing the
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End-of-Chapter Materials

s in previous editions, the end-of-chapter material remains a strength of the text. The sheer number of questions, problems, and Internet assignments test and, therefore, expand the students’
knowledge of chapter concepts.
Excel Spreadsheet Assignments extend specific problems and are located on the 14th edition
Instructor Resources page, with template versions that can be provided to students for assignments. An Excel icon appears next to those problems that have corresponding spreadsheet
assignments.
“Develop Your Skills” asks questions that address the four skills students need to master to pass
the CPA exam: Research, Analysis, Spreadsheet, and Communication. An icon indicates when
these skills are tested.
Confirming Pages
Consolidation of Financial Information 65
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3. If the consideration transferred for an acquired firm exceeds the total fair value of the acquired firm’s
net assets, the residual amount is recognized in the consolidated financial statements as goodwill, an
intangible asset. When a bargain purchase occurs, individual assets and liabilities acquired continue
to be recorded at their fair values, and a gain on bargain purchase is recognized.
4. Particular attention should be given to the recognition of intangible assets in business combinations.
An intangible asset must be recognized in an acquiring firm’s financial statements if the asset arises
from a legal or contractual right (e.g., trademarks, copyrights, artistic materials, royalty agreements).
If the intangible asset does not represent a legal or contractual right, the intangible will still be recogn